Profit and Loss Quiz Set 005

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Question 1

A merchant is selling cloth at a profit of 254%. If the cost increases by 18%, but he continues to sell at the same price, then what is the new profit percentage?

 A

200%.

 B

300%.

 C

100%.

 D

400%.

Soln.
Ans: a

Let the cost price be CP. Then the SP = CP x (1 + $254/100$) = $354/100$ × CP. New CP = (1 + $18/100$) × CP, which is $118/100$ × CP. New Profit% = (SP/CP - 1) × 100, which is $(({354/100 × CP}/{118/100 × CP}) - 1) × 100)$, which becomes $(354 - 118)/118$ × 100 = 200%.


Question 2

What should be the marked price of an item if a profit of 125% is to be made after allowing a discount of 25%?

 A

Rs. 300.

 B

Rs. 310.

 C

Rs. 290.

 D

Rs. 320.

Soln.
Ans: a

If the cost is 100, the sale price would be 100 + 125 = Rs. 225. If M is the marked price, then sale price is (100 - 25)% of M = 225. Which gives 75M/100 = 225, which gives M = Rs. 300


Question 3

When an item is sold for Rs. 49000, a loss of 55% is incurred. What should be the sale price to earn a profit of 125%?

 A

Rs. 245000.

 B

Rs. 245010.

 C

Rs. 245020.

 D

Rs. 244990.

Soln.
Ans: a

As a shortcut, we can set a proportionality ${X/{100 + 125}$ = ${49000/{100 - 55}.$ Solving, X = 225 × $49000/$45, which gives X = 245000.


Question 4

An article was purchased at ${3/50}$ of its marked price. Later it was sold at a 25% more than the marked price. What is the profit percentage?

 A

$1983{1/3}$%.

 B

3400%.

 C

1400%.

 D

$1081{9/11}$%.

Soln.
Ans: a

Let the marked price be 100. The item was purchased at Rs. (3/50) × 100 = 6. The profit 125 - 6 = Rs. 119. Percent profit = $119/6$ × 100 = $1983{1/3}$%.


Question 5

A loss of x% is incurred if an item is sold for Rs. 6200. But if the same item is sold for Rs. 13600 a profit of x% is earned. At what price should the item be sold so as to earn a profit of 15%?

 A

Rs. 11385.

 B

Rs. 11386.

 C

Rs. 11384.

 D

Rs. 11387.

Soln.
Ans: a

Let the cost of the item be C. Then, ${C - 6200}/C$ = ${13600 - C}/C$, which gives C = Rs. 9900. To sell it it a profit of 15%, ${S - 9900}/9900$ × 100 = 15, which gives S = Rs. 11385.


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This Blog Post/Article "Profit and Loss Quiz Set 005" by Parveen (Hoven) is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
Updated on 2017-10-26.

Posted by Parveen(Hoven),
Aptitude Trainer


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